Is there a timeline for a 1031 TIC Exchange?
Yes, there is a time compression for the completion 1031 TIC Exchanges. Here is a brief timeline. 1. If the sale of your relinquished property has not yet occurred: Notify your First Financial investment advisor that you are considering exchanging into a Tenants-in-Common (TIC) passive investment. (If you have already closed on the relinquished property, and the funds from the sale are at the Qualified Intermediary, notify your advisor of this fact immediately!) 2. Your advisor will suggest a Qualified Intermediary (QI) unless you already have chosen one. He or she will then make contact with your QI to advise them that FFEC will be looking for replacement investment property (or properties) for you. 3. You will receive a packet from the Advisor with pertinent information regarding 1031 exchanges, specifically TIC’s. 4. Your Advisor will conduct a general interview with you, in person or by phone, to help insure that a TIC exchange is right for you. 5. It will be your responsibility to
